yes you can
if you got a modchip with an included patcher you pal wii will boot it
but you wont be able to add new codes

if you want to make an action replay card out of your normal memcard#
then burn an action replay dol file on a dvd and boot it with the GCOS boot disc.
then reset the hardware inside the action replay
mamcard in slot 2 will be AR memcard for now
then shut down yourr console and play the AR 1.14B on your wii
either it will boot by itself or you will have to boot it with the boot disc by GCOS

then youj will be able to add new codes onto the action replay
otherwise every data on your memcard 2 will be deleted if you run AR without the formatted card done by AR